Now, you can also be a millionaire.

Setting a goal that is quantified is very important if you want to be become a millionaire. Most of the time, people cannot become millionaire because they do not plan their goals. Your millionaire planning must be quantified so that you will not be swayed away when you have more money.

I have seen many businessmen who earn $40,000 a month and always dream that they will be a millionaire. However, these people find it hard to achieve their goal not because they do not invest their money or whatsoever, they just fail to plan. Example of plan is as follows;

Miss Frugal wants to be a millionaire. She has an income of $480,000 per annum. Despite being well to do, she managed to save $180,000 per annum because she is frugal and is a single woman.

Inflow: $40,000
Outflow: $25,000
Savings: $15,000

Time to take to be a millionaire;

ROI Amount Years

8% $180k pa 4.78
12% $180k pa 4.51
15% $180k pa 4.33
20% $180k pa 4.09

With this plan, she can roughly invest her money that will give a yield of 8%- 20% and she will be a millionaire in less than 5 years time. If she does not have her millionaire plan, she will have problem guessing when she will be a millionaire. She will also religiously save $180,000 yearly as she will be motivated.

Many people fail to be a millionaire despite having a lot of money is because they do not have a plan that they can follow. They usually plan their make their first million by thinking of how to multiply their income streams and working extremely hard. Everyone can be a millionaire. This may sound stupid but everyone can indeed be a millionaire.

Here is how;

ROI Amount Years

8% $500 a month 34.6
8% $1,000 a month 26.5
8% $1,200 a month 24.4
8% $1,500 a month 22.0

Now, ask this question to yourself, is it impossible to be a millionaire. Well, no!